Well, the correction in RIMM seems to have run its course and it’s time again to look at a bullish trade. Here it is. (December 26, 2012)

by DAN BBRY 
I’m Dan Fitzpatrick at StockMarketMentor and OptionMarketMentor.com here on the day after Christmas, December 26th. By the way if you’re interested in options, you’re on the email list, which is why you’re getting this video; you’ll be getting some information sometime, I’m actually meeting with Gary tomorrow to finalize things, on an online option course that I’m teaching in mid-January, I think it’s January 12th, that’s the second Saturday in January. Hopefully you’re interested in that. If you want to learn to trade options the right way then you need to learn it from me, because I’m going to show you. Hopefully you’ll check that out. Okay, back to the stock here in question, Research In Motion ( $RIMM Research In Motion Limited Inc ). Remember last week I had said you definitely want to be out of this dog before earnings, and so what did we get? Well, we got the decline, and by the way, that wasn’t like any brilliant inside on my part, it’s just that I’m not a stupid Rimmonian, or whatever it is, where you just believe that the Blackberry ( $RIMM Research In Motion Limited Inc ) is going to come back, okay? Didn’t happen, not going to happen, I’m just telling you that there will always be some Blackberryians out there but for the most part I don’t really see anybody leaving Samsung or Apple ( $AAPL Apple Inc ) to go get a different fruit here with the Blackberry ( $RIMM Research In Motion Limited Inc ); so they’re loosing subscribers, didn’t lose a lot, but guess what? If they lose some then they didn’t gain any did they? So they’re losing market share, but what happens? The stock falls down, now what I’m saying is, and that was a technical sell, that I talked about on CNBC, I mentioned a little bit about their earnings and you know they’re Blackberry 10 ( $RIMM Research In Motion Limited Inc ), you know all that stuff, but basically the stock, was way too overextended, it had too much hope and hype put in there, so there’s only one place for the stock to go and that was down. Okay, so now what? Look at this big volume, massive volume on the way down, that cleared out a lot of weak sisters, a lot of folks who bought up here and were, I don’t know, use your own expletive there, as far as why they held over earnings, that didn’t work out too well for them. Well now, Research In Motion ( $RIMM Research In Motion Limited Inc ) has hit a tradable bottom here, I would say that’s Monday’s low of $10.59. I think you can actually go long on this stock in anticipation, you know the market’s going to start looking forward and anticipating the next event and that’s the wonderful Blackberry 10 ( $RIMM Research In Motion Limited Inc ). If you look at the weekly chart we can actually see a pretty nice setup for a long trade; volatility squeeze, an expansion out the upside, that was phase one, the initial expansion, phase two is the pullback, it looks like we got our pullback, we’ve got support right here; now I’d look for more upside. I’d suggest being long this stock, if you’re a trader, but just have your risk defined just below this last low and I think you’re going to be good to go. Okay, that’s it, members over to the Strategy Session; I’ve got a couple sectors that are working.

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